USD/MXN Down 378 Pips Over Past 4 Hours, But Still in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

USD/MXN 4 Hour Price Update

Updated March 26, 2020 05:12 AM GMT (01:12 AM EST)

The back and forth price flow continues for USD/MXN, which started the current 4 hour candle off at 23.9855, down 378 pips 0.16% from the last 4 hour candle. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 34th in terms of percentage change since the last 4 hour candle.

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/MXN is down 7572 pips (3.06%) since the day prior (opening today near 24.0231), marking the 3rd day in a row a decrease has occurred. Those trading within the Forex asset class should know that USD/MXN was the worst performer in the class. Let’s take a look at price chart of USD/MXN.

USD/MXN Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 21 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDMXN, with 0 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on; below is a short snippet from it to give you a taste.

Weakness to remain for the Mexican Peso as coronavirus risks dominate. However, downside risks are more broadly balanced.